Haydale Graphene Inds PLC (LSE:HAYD, OTC:HDGHF) got a leg up as it signed a collaboration deal with Malaysian state oil and gas group Petronas to accelerate the commercialisation of graphene-based formulations.
The agreement, which runs through to 31 December 2025, will see the two exploring graphene’s use in battery cells, composites, coatings and thermal materials.
Keith Broadbent, Haydale’s chief executive, said: “Our expertise in nanomaterials and our functionalisation technology compliments Petronas' commitment to sustainability and safeguarding the environment.”
Petronas’ head of advanced materials Dileezaa Lurthanathan said: ”Our collaboration with Haydale marks a significant milestone in the drive towards the commercialisation of graphene in sustainable technologies.”
The Malaysian group is one of the main sponsors of the Mercedes Formula One team.
Shares rose 0.03p or 2.5% to 1.05p.